Skew data: Binance bid-ask spread steadily declines, liquidity is rising

According to data provided by crypto derivatives analysis company Skew, Binance's daily average bid spread of $ 10 million on Binance has been steadily declining over the past week (Note: This spread represents the difference between assets available for immediate purchase and immediate sale Price difference). The spread on February 19 was 0.71%, while Binance's weekly spread fell to 0.55%, a decrease of about 16 basis points.

Skew also reported that the Binance spread fell by 50 basis points between January 6 and February 4. This means that Binance's liquidity is on the rise as more buyers are matched with sellers of cryptocurrency exchanges in a larger price range. On the other hand, although the spread of BitMEX has fallen by 5 basis points since last week, its liquidity may decline slightly. On February 19, BitMEX's bid-ask spread was 0.25%. Over the next four days, the spread dropped to 0.20%. However, the spread on February 24 rose to 0.22%, which may mean that fewer users choose to trade on BitMEX.